iShares Nasdaq Biotechnology Index Fund ETF Forecast
iShares Nasdaq Biotechnology Index Fund ETF downgraded to Sell Candidate
(Updated on Apr 23, 2024)
The iShares Nasdaq Biotechnology Index Fund ETF price gained 1.51% on the last trading day (Tuesday, 23rd Apr 2024), rising from $126.11 to $128.02. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the ETF fluctuated 1.81% from a day low at $126.59 to a day high of $128.88. The price has fallen in 6 of the last 10 days and is down by -4.65% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 57 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $244.13 million.
The ETF lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the ETF is expected to fall -4.84% during the next 3 months and, with a 90% probability hold a price between $118.29 and $129.92 at the end of this 3-month period.
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IBB Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 2.71%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The iShares Nasdaq Biotechnology Index Fund ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $133.72. On a fall, the ETF will find some support from the short-term average at $126.31. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for iShares Nasdaq Biotechnology Index Fund ETF
iShares Nasdaq Biotechnology Index Fund finds support from accumulated volume at $127.84 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This ETF has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the ETF moved $2.29 between high and low, or 1.81%. For the last week, the ETF has had daily average volatility of 1.54%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (IBB) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect iShares Nasdaq Biotechnology Index Fund to open at $127.83, and during the day (based on 14 day Average True Range), to move between $125.91 and $130.13, which gives a possible trading interval of +/-$2.11 (+/-1.65%) up or down from last closing price. If iShares Nasdaq Biotechnology Index Fund takes out the full calculated possible swing range there will be an estimated 3.29% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $127.84 (0.14%) than the resistance at $134.80 (5.30%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is iShares Nasdaq Biotechnology Index Fund ETF A Buy?
iShares Nasdaq Biotechnology Index Fund holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.282 Sell Candidate Downgraded
Predicted Opening Price for iShares Nasdaq Biotechnology Index Fund of Wednesday, April 24, 2024
Fair opening price April 24, 2024 | Current price |
---|---|
$127.83 ( 0.148%) | $128.02 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IBB
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 130.12 | 1.64 % | |
R2 | 129.25 | 0.96 % | ||
R1 | 128.70 | 0.535 % | ||
Current price: | 128.02 | |||
Support | S1 | 126.96 | -0.83 % | |
S2 | 126.41 | -1.25 % | ||
S3 | 125.54 | -1.94 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 136.25 | 6.43 % | |
R2 | 136.14 | 6.34 % | ||
R1 | 134.80 | 5.30 % | ||
Current price | 128.02 | |||
Support | S1 | 127.84 | -0.141% | |
S2 | 124.72 | -2.58% | ||
S3 | 124.64 | -2.64% |
IBB Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 21, 2024 | Mar 21, 2024 | Mar 27, 2024 | $0.126 | 0.0914% |
2 | Dec 19, 2023 | Dec 20, 2023 | Dec 27, 2023 | $0.124 | 0.0906% |
3 | Sep 25, 2023 | Sep 26, 2023 | Oct 02, 2023 | $0.153 | 0.127% |
4 | Jun 06, 2023 | Jun 07, 2023 | Jun 13, 2023 | $0.0060 | 0.0046% |
5 | Mar 22, 2023 | Mar 23, 2023 | Mar 29, 2023 | $0.0650 | 0.0508% |
FAQ
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